Additional European Equity News

Anglo American (AAL LN) – Kumba Iron Ore, a unit of the Co., boosted its interim dividend to ZAR 72.70/shr vs prev. ZAR 19.60/shr – equating to 100% of headline earnings. H1 diluted EPS ZAR 72.56 vs prev. ZAR 26.13, production 20.4mln/T, +12%; in-spite of above-average rainfall and logistics issues in the Northern Cape region. (Newswires)

Croda International (CRDA LN) - H1 pretax profit GBP 204mln vs exp. GBP 203mln, operating profit GBP 218mln, +41.9%. Interim ordinary dividend GBP 0.435, +10%. (Newswires)

Daimler (DAI GY) - Mercedes-Benz Hungarian plan has halted production for three weeks. (Newswires) 

Endesa (ELE FP) - H1 net EUR 830mln vs prev. EUR 1.13bln. Revenue EUR 8.69bln vs prev. EUR 8.27bln. (Newswires) 

EssilorLuxottica (EL FP) – Making timely progress on preparations for an offer for Grandvision, intends to fund the offer through available cash resources. Could also utilise committed credit lines that are available for general purposes/ Request for review and approval of offer memorandum with the Netherlands authority no later than September 23rd. (Newswires)

Eurazeo (RF FP) - Co. has increased its private debt programme to EUR 2bln. (Newswires) 

Ferrovial (FER SM) - Co. has reached a deal to sell its environmental business with a enterprise value of EUR 1.13bln. The transaction is expected to lead to capital gains of around EUR 317mln for Ferrovial. (Newswires) 

First Group (FGP LN) - Matthew Gregory has informed the Board of his intention to step down as Chief Executive and as an Executive Director at the conclusion of the Company's AGM on 13 September 2021. (Yahoo Finance)

Grifols (GRF SM) - OrphanPacific start commercializing Lynspad™ [alpha-1 proteinase inhibitor] to treat alpha-1 antitrypsin deficience. (Grifols) 

Hexagon (HEXAB SS) – Q2 net sales EUR 1.07bln vs exp. EUR 1.03bln, EBIT EUR 301mln vs exp. EUR 284mln, EBT EUR 294mln vs exp. EUR 280mln. No change in the risks facing the Co. since the FY20 update. (Newswires)

Kering (KER FP) - Kering kicks off global media review, according to sources, said to be in early stages. (campaign) 

Neste (NESTE FH) – Q2 revenue EUR 3.02bln vs exp. EUR 2.55bln, operating profit EUR 463mln vs prev. EUR 208mln; solid performance in Q2. Visibility in economic development remains low given COVID-19, expect volatility in oil products and renewable feedstocks to remain high. Q3 sales margin should be healthy but below the Q2 figure. (Newswires)

Polymetal (POLY LN) - Q2 gold production -6% YY, Revevnue +6% YY. Co. confirmed 2021 production guidance (Newswires) 

Reckitt Benckiser (RKT LN) - H1 adj. operating profit GBP 1.424bln vs prev. GBP 1.696bln. Diluted EPS -14.4% YY to GBP 1.426. H1 revenue +1.5% YY to GBP 6.598bln. Co. recommends a H1 dividend of GBP 0.73/shr, in line with H1 2020. Co. affirms guidance. (Newswires)

Rio Tinto (RIO LN) -  Co. said talks failed to reach a new labour agreement with the union and it is cutting production at BC works aluminium smelter to around 35% of its 432k tonnes annual capacity due to the strike, while Co. added that it will have a significant impact on business and the community. (Newswires)

Royal KPN (KPN NA) - Q2 net EUR 800mln vs prev. EUR 135mln. Revenue EUR 1.3bln vs prev. EUR 1.29bln. Co. is to repurchase EUR 200mln shares. (Newswires) 

Santander (SAN SM) - Co. has reportedly sold its non-performing mortgage portfolio to CPPIB, according to reports. (Newswires) 

Unite Group (UTG LN) – H1 pretax profit GBP 130mln vs prev. GBP -74mln, 96% rent collected for the FY20.21 academic year. Interim dividend of GBP 0.065. Business outlook remains strong post-COVID. (Newswires)

Ultra Electronics (ULE LN) - Advent's GBP 2.6bln bid for the Co. is facing a national security review after civil servants were ordered to monitor the deal. UK Business Secretary Kwarteng is said to be taking "active interest" in the developments of the deal, and could order a review if formalised, sources state. (Telegraph)

ICADE (ICAD FP) UPGRADED TO OUTPERFORM FROM NEUTRAL AT ODDO SECURITIES

RYANAIR (RYA LN) UPGRADED TO BUY FROM NEUTRAL AT REDBURN PARTNERS

27 Jul 2021 - 07:50- EquitiesResearch Sheet- Source: Newsquawk